Debmarine lifts diamond output

Namibia’s diamond production rose 8% year on year in the third quarter, but remained below the previous quarter’s level as stronger offshore output at Debmarine Namibia failed to fully offset weaker production earlier in the year.

De Beers’ Namibian operations recovered 495 000 carats in the three months to September, compared with 457 000 carats a year earlier. Output was 7% lower than the 531 000 carats recorded in the second quarter.

The improvement was driven by Debmarine Namibia, which recovered 366 000 carats, up 21% from 303 000 carats in the third quarter of 2025. Production was, however, 1% lower than in the preceding quarter.

Namdeb’s land operations produced 129 000 carats, down 16% year on year and 20% quarter on quarter.

The offshore rebound has narrowed, but not erased, Namibia’s cumulative production shortfall.

De Beers’ Namibian operations produced 1.58 million carats in the first nine months of 2026, down 3% from 1.62 million carats in the corresponding period last year.

Debmarine accounted for the entire net decline. Its year-to-date production fell by 59 000 carats to 1.09 million, while Namdeb’s land operations increased production by 18 000 carats to 492 000.

The increase at Namdeb therefore partly cushioned the offshore shortfall, leaving combined production 41 000 carats below the 1.62 million recovered in the first nine months of 2025.

The production figures come against continuing pressure on the natural diamond market.

De Beers’ global rough diamond production fell 11% year on year to 6.8 million carats in the third quarter, mainly because of planned plant maintenance at Orapa in Botswana and reduced activity at South Africa’s Venetia mine ahead of a planned two-year production pause.

The group said rough diamond trading conditions showed signs of stabilisation, supported by a more balanced supply-demand environment and improved consumer demand in the United States and India. Lab-grown diamonds continued to affect demand for lower-value natural stones.

De Beers’ consolidated average realised price fell 45% year on year to U$84 a carat in the third quarter, from $154 a year earlier. Its average rough diamond price index declined by 20% to 65 from 81.

The distinction matters because realised prices reflect the composition of stones sold as well as market pricing. De Beers attributed the 37% year-to-date decline in its average realised price, to U$97 a carat, to an 18% fall in its average price index and a return to a more balanced sales mix. The comparative period included a higher proportion of higher-value diamonds.